Bill Title: Creates the Commercial Financing Licensing Act. Sets forth provisions concerning licensure requirements for persons providing commercial financing; applicability of the Act; applying for licensing under the Act; license application and issuance; refusal to issue a license; license issuance and renewal; fees; functions, power, and duties; examination and prohibited activities; subpoena power of the Secretary of Financial and Professional Regulation; reports required; suspension of licenses, revocation of licenses, civil penalties, and other discipline; investigation of complaints; confidentiality; appeal and review; licensure fees; injunctions; exemptions; complaint disclosure; rules; violations; severability; severability; and a commercial financing database. Amends the Freedom of Information Act to make a conforming change. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced) 2024-05-07 - Added Chief Co-Sponsor Rep. Debbie Meyers-Martin [HB5587 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Hoan Huynh [D]	Primary	Sponsored Bills	HD-013	FollowTheMoney	Ballotpedia	VoteSmart
Representative Norma Hernandez [D]	Cosponsor	Sponsored Bills	HD-077	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kevin Olickal [D]	Cosponsor	Sponsored Bills	HD-016	FollowTheMoney	Ballotpedia	VoteSmart
Representative Debbie Meyers-Martin [D]	Cosponsor	Sponsored Bills	HD-038	FollowTheMoney	Ballotpedia	VoteSmart

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